You can now read 10 articles in a month for free on Read as much as you want anywhere and anytime for just 99¢.

The Boston Globe


HSBC plans to find additional savings by 2016; 14,000 jobs could be cut

LONDON — After two years of far-reaching cost cuts and asset sales, HSBC said Wednesday that it planned to find an additional $2 billion to $3 billion in savings by 2016 that would include the elimination of as many as 14,000 jobs.

In a meeting with investors, the management team of HSBC said it aimed to increase dividends and was considering buying back stock. That would be a first among Europe’s largest financial institutions, which until now have mainly increased capital reserves to comply with stricter regulations.

Loading comments...

You have reached the limit of 10 free articles in a month

Stay informed with unlimited access to Boston’s trusted news source.

  • High-quality journalism from the region’s largest newsroom
  • Convenient access across all of your devices
  • Today’s Headlines daily newsletter
  • Subscriber-only access to exclusive offers, events, contests, eBooks, and more
  • Less than 25¢ a week